The Federal Housing Finance Agency (FHFA) on Thursday announced that it initiated 43,459 foreclosure prevention actions in the third quarter of 2024, bringing the total number of homeowners helped to more than 7 million since the government-sponsored enterprises (GSEs) entered conservatorship in 2008. But the number of foreclosure starts spiked by 27% to 22,025 during the quarter.

This is according to the agency’s Q3 2024 foreclosure prevention and refinance report. The FHFA also found that 35% of all loan modifications completed in the third quarter resulted in an average reduction of “more than 20%” to borrowers’ monthly details ⇒

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